Kevin Mayer and Tom Staggs Media Venture Will Be Named Candle, Company Confirms Westbrook Deal

The new media venture run by former Disney executives Kevin Mayer and Tom Staggs finally has a name. It has been christened Candle Media, the pair announced on Tuesday while confirming their deal to buy a minority stake in Will Smith and Jada Pinkett Smith’s Westbrook Inc. The Smiths’ company produced the Oscar-contender “King Richard,” the Netflix hit “Cobra Kai” and the Facebook Watch show “Red Table Talk.” Sources say that Candle spent $60 million for a stake that gives them just over 10% of the company. That values Westbrook at roughly $600 million. In a statement, Mayer and Staggs… Read Full Article